Prince Resource Corporation
TSX VENTURE : PNR.H

September 22, 2014 18:57 ET

Prince Resource Corporation Announces Non-Brokered Private Placement

CALGARY, ALBERTA--(Marketwired - Sept. 22, 2014) - Prince Resource Corporation (TSX VENTURE:PNR.H) (the "Company") is pleased to announce that it will proceed with a non-brokered private placement of up to 3,333,333 units (the "Units") at $0.15 per Unit for gross proceeds of up to $500,000 (the "Offering").

Each Unit will consist of one common share in the capital of the Company (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one additional common share in the capital of the Company (a "Warrant Share") at a price of $0.15 per Warrant Share for a period of one year from the closing of the Offering.

Finder's fees may be payable in connection with the completion of the Offering in accordance with TSX Venture Exchange ("TSXV") policies. Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the TSXV.

All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The proceeds from the Offering will be used for general corporate and administrative expenses.

On behalf of Prince Resource Corporation:

Eugene Chen

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Contact Information

  • Eugene Chen
    Securities, Corporate Finance and M&A
    of McMillan LLP
    403.231.8389
    403.531.4720 (FAX)
    eugene.chen@mcmillan.ca